What Does the Following Flashcards Illustrates About Economic Trade

What do you know about economic trade? If you have a test coming up in this field, let these flashcards guide you toward taking the quiz. Trade is a fundamental economic concept which requires the buying and selling of goods and services, with reimbursement paid to buy a buyer and a seller. Read and study these flashcards to become better acquainted with economic trade, and then take the quiz to see what you learned.

30 cards   |   Total Attempts: 188
  

Cards In This Set

Front Back
The physical export of motocycles from the united states to mexico best illustrates a...
Trade Flow
The spending by Americans while travleing in Europe best illustrates...
Financial Flow
The emigration of software designers from India to the united states best illustrates a...
Resource Flow
The purchase by and American firm of the right to produce a Rx drug patented in Germany best illustrates...
Technology Flow

THE BUSINESS-TO-BUSINESS (B2B) RETRIEVAL OF PRICES OF FOREIGN RESOURCES VIA THE INTERNET BEST ILLUSTRATES A(N):
Information Flow
THE BUILDING OF A PRODUCTION PLANT IN CHINA BY AN AMERICAN FIRM BEST ILLUSTRATES A(N):
Resource Flow
AMERICAN EXPORTS AND IMPORTS OF GOODS AND SERVICES EACH ARE ABOUT WHAT PERCENTAGE OF GDP?
11-16 Percent
THE UNITED STATES' EXPORTS AND IMPORTS ARE ABSOLUTELY LARGER THAN ANY OTHER NATION'S, BUT THE EXPORTS AND IMPORTS OF MANY OTHER NATIONS ARE A LARGER PERCENTAGE OF THEIR GDPS.
CORRECT
ABOUT HALF OF UNITED STATES INTERNATIONAL TRADE IS WITH:
Other industrically advanced capilistic countries
THE UNITED STATES' MOST IMPORTANT TRADING PARTNER IN TERMS OF DOLLAR VOLUME IS:
Canada
IN TERMS OF ABSOLUTE VOLUMES OF IMPORTS AND EXPORTS, THE WORLD'S LEADING TRADING NATION IS:
The United States
IN RECENT YEARS THE UNITED STATES HAS IMPORTED:
More goods and services than it has exported
THE AVERAGE U.S. TARIFF RATE ON IMPORTED GOODS IS ABOUT:
5 Percent
THE MAJOR GOODS EXPORTS OF THE UNITED STATES (IN DOLLAR VOLUME) ARE:
Chemicals, Consumer durables, Agricultural products, and Semiconductors
THE MAJOR GOODS IMPORTS OF THE UNITED STATES (IN DOLLAR VOLUME) ARE:
Petroleum, Automobiles, Household materials, and Computers